look news india
India GDP Growth: Asian Development Bank has increased India's GDP growth estimate by 0.3 percent to 7 percent for the current financial year. ADB had earlier estimated 6.7 percent. Demand is likely to increase due to increased investment in private and public sectors in the country. Due to which the growth estimate has been increased.
India's manufacturing and services sectors have recorded rapid and strong growth. The improvement in consumer demand has also improved overall growth. Monetary policy is also expected to improve due to decline in inflation. ADB has estimated GDP growth for the financial year 2025-26 at 7.2 percent.
World Bank also revised GDP estimates
Recently, the World Bank has increased the GDP growth estimate for the financial year 2024-25 by 0.2 percent to 6.6 percent. The World Bank has increased India's GDP estimate for the last financial year by 1.2 percent to 7.5 percent. The World Bank has said that it has increased its estimates, indicating the possibility of growth in the service and industrial sectors. RBI revised real GDP growth estimate to 7 percent from 6.70 percent. The retail inflation rate was also estimated to be 4.5 percent.
Growth has increased over the last 3 years
India's economy witnessed significant growth in 2022-23 with strong growth in manufacturing and services sectors, accelerating with attractive growth since then. This momentum is expected to continue in the coming years 2024-25 and 2025-26 also. Investment is increasing due to continuous improvement in consumption demand in the country. With inflation under control, global trends are also looking positive.
Gross Domestic Product (GDP) is calculated to track the economic condition of a country. Which reflects the prices of all goods and services. This also includes foreign companies manufacturing in the country.